DIndustrial Electricity Usage and Stock Return in Thailand / Kamolmas Thatutong
Imprint
2018
Descript
48 leaves: tables
SUMMARY
This paper examines the predictability of industrial electricity usage growth rate on the SET50 excess return. The studies find that a 1% increase in year on year industrial electricity usage growth rate predict 0.0506% lower excess return in the next 12 months with R^2 equal to 11.03%. The results This paper examines the predictability of industrial electricity usage growth rate on the SET50 excess return. The studies find that a 1% increase in year on year industrial electricity usage growth rate predict 0.0506% lower excess return in the next 12 months with R^2 equal to 11.03%. The results show strong evidence supporting the general belief that stocks premium tend to be countercyclical to the business cycle. In addition, its forecasting ability is better than those traditional predictor variables except T-Bill in 1 year excess return prediction.
